Chile’s Kast Scores Win as Lower House Backs Economic Bill (2)

Chile’s lower house of Congress approved President José Antonio Kast’s flagship economic bill that his administration is counting on to drive growth in one of Latin America’s richest nations.

The Chamber of Deputies backed the legislation in principle and approved most of the roughly 40 proposals in article-by-article votes. The measures include the creation of employment subsidies, the elimination of a capital gains tax on low-value stock sales and a cut in the corporate tax rate to 23% from 27%. The legislation still needs to pass the Senate before becoming law.

Chilean President José Antonio Kast

Photographer: Cristóbal Olivares/Bloomberg

The bill is the centerpiece of Kast’s ...